LNG Re-Gasification Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Global LNG
Regasification Market: Overview
Considered to
be one of the cleanest forms of fossil fuels presently known to the humankind,
natural gas is increasingly becoming one of the most preferred vehicle and
power generation fuels globally. As the world’s appetite for power increases at
a mammoth pace, and nearly 40% more energy expected to be consumed across the
globe compared to the present consumption trend, the demand for natural gas is
expected to see a massive rise in the next few years.
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To be able to
meet this rising demand for natural gas, import of liquefied natural gas (LNG),
which is natural gas liquefied for the ease of transportation, by the means of
regasification terminals is expected to gain increased attention across the
globe in the near future. The field is already gaining significant traction
with several LNG regasification terminals already operating in many countries
worldwide, and many more under construction or awaiting approvals from
regulatory bodies.
Global LNG Regasification Market: Scope of
the Report
This report
on the global LNG
regasification market presents a detailed overview of the present state
of the market and includes several projections regarding the growth prospects
of the market and its core elements over the period between 2016 and 2024. The
report assesses several LNG regasification terminals across the globe to
present the reader a clear understanding of the technologies employed and the
key challenged faced by the industry. A detailed analysis of aspects such as parameters
considered while establishing an LNG regasification plant, energy systems
employed, and strategies employed by companies to optimize the efficiency of
LNG supply chain and enhance the utilization of the available sources of
energy.
The report also
presents detailed insights into several aspects such as growth drivers,
restraints, regulatory framework across key regional markets, recent trends,
growth opportunities, and level of competition in the global market. Detailed
business profiles of some of the key vendors operating in the market are also
included in the report, providing the reader an overview of the competition
that the market features.
Global LNG Regasification Market: Drivers and
Restraints
The vast rise
in onshore and offshore natural gas exploration and production activities in
the past few years, significant advancements in regasification technologies,
the mounting global demand for natural gas for use across an increasing array
of applications, and government regulations advocating the use of cleaner fuels
are some of the key factors driving the market. The market is also driven due
to the significant development of offshore LNG regasification units across
several countries.
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However, the
market’s growth is expected to be restrained due to the high base cost of LNG
regasification units and the additional costs incurred for maintenance and
replacement. The increased focus on the development of reliable renewable
energy sources and bio-fuels is also expected to hinder the overall growth prospects
of the global LNG regasification market in the next few years.
Nevertheless,
the continuous rise in LNG-powered vehicles, especially in emerging economies
across Asia Pacific, such as India and China, is expected to act as a key
growth opportunity for the market. Both India and China are large-scale
importers of LNG and the increased demand for natural gas in these countries is
expected to have a sizeable positive impact on the development of the LNG
regasification market in the next few years.
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